Definition Of

More from this Section

  • Market description
    Market description– describes the targeted segments in detail and provides context for the marketing strategies and detailed action programs.
  • Production concept
    The production concept is the idea that consumers will favor products that are available and highly affordable.
  • Need recognition
    The first stage of the buyer decision process, in which the consumer recognizes a problem or need.
  • Cash-and-carry wholesalers
    Cash-and-carry wholesalers refer to the wholesalers who carry a limited line of fast-moving goods and sell to small retailers for cash. Normally do not deliver.
  • Service perishability
    Service perishability means that services cannot be stored for later sale or use
  • General need description
    General need description is the stage in the business buying process in which a buyer describes the general characteristics and quantity of a needed item.
  • Demographic segmentation
    Demographic segmentation divides the market into segments based on variables such as age, gender, family size, family life cycle, income, occupation...